Immediate Needs Annuity Quote

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Weird topic, immediate needs annuity quote. When I saw that, I’m like, “Yeah, you know,

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my consultants, all the consultants and lawyers that follow me around and say,

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‘How about this topic?’” And they threw that out. I’m like, “Yeah, let’s do that.”

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Hi there. I’m Stan The Annuity Man, America’s annuity agent,

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licensed in all 50 states and Puerto Rico, and the founder of Contractual Guarantees Only,

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which is CGO, which is just looking at what the policy is going to do.

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You own an annuity for what it will do, not what it might do.

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But this immediate needs annuity quote, that has some translations that could be unique, and many

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of them. We’re going to kind of go through that and what I think you’re talking about after this.

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So, immediate needs to me means that you need the income to start now. So,

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there’s two types of income: income now and income later.

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Income now means that you need income to start within the year— next month,

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6 months, 8 months, 12 months. Income later means you need it to start down

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the road. And there’s three products for that— specific products for income later: QLACs,

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deferred income annuities, and income riders. Those are income later products.

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But income now, you need immediate income, immediate needs. That’s a

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single premium immediate annuity. And you can go to my site at theannuityman.com,

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and you can run quotes to your heart’s content. They’re contractual guaranteed pensions. There’s

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no moving parts. There’s no annual fees. There’s no market attachments. It’s a straight

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transfer of risk that’s primarily priced on your life expectancy. If it’s joint life expectancies,

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at the time you take the payment, you can use IRA, traditional IRA,

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you can use Roth IRA, you can use non-IRA, non-qualified checking account-type assets.

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So, that’s what we’re talking about. Anybody that tries to sell you another annuity type

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for immediate needs income, for lifetime income, they need to lose their license,

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in my opinion. They’re fitting a square peg into a round hole so they get paid more.

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I’ll give you an example. For immediate needs lifetime income quote,

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it’s an immediate annuity for us. We ask two questions:

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What do you want the money to contractually do? In this case, income.

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When do you want those contractual guarantees to start? In this case, immediate.

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That’s a single premium immediate annuity.

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However, there’s a lot of Johnny Appleseed agents out there that are trying to maximize

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their commission that will try to sell you an indexed annuity or variable annuity with an

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income rider and have it start immediately. They should lose their license. And if they’re caught,

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they probably will lose their license. Because the first thing the arbitrator is going to say is,

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“So, you understood that they needed lifetime income to start immediately?”

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“Yes, sir.”

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“Did you show an immediate annuity quote?”

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And if they answer no, hand over your license.

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I mean, there’s no mulligans in lifetime income. There’s no

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mulligans with buying annuities. You don’t get a do-over. You have to get it right.

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But here’s the good news: it’s very, very simple. It’s the agents and advisors that

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make annuities complex. I always say if you can’t explain it to a nine-year-old,

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don’t buy it. No offense to nine-year-olds.

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An immediate annuity is a direct transfer of risk. You’re transferring the risk to

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the life insurance company that’s issuing the immediate annuity. It has to be A+ or

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better. Most of the really competitive quotes are with A++ carriers that are

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never going to go out of business. So, don’t even go down that damn rabbit hole.

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I had a guy call me the other day, “What happens if those double A+...” We’re done.

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It’s over. Movie industry saying: it’s a wrap. It’s hug your loved ones. Love the

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one you’re with. Crosby, Stills, Nash & Young. Come on. It’s not going to happen.

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“Well, it could.”

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Well, if it does, Chester, then it’s over. Game over. We’re fighting each other. Where

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I live in Florida, a lot of the time we’re fighting in Publix for a loaf of bread,

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and I’m going to kick you in the knee to get it. That’s where we’re at.

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You know, I laugh about people that say, “Well, I’ve got all my stuff in gold right now.”

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Okay, great. You need to go get some bread and some milk, and you go to Publix, which is the

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biggest chain in Florida for groceries. How do you pay for it? Do you just chip

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off some gold to get it? Is that what you’re doing? Have you thought it through? Come on.

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Immediate needs for lifetime income is an immediate annuity. Duh.

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You think? Immediate annuities were put on the planet during Roman times for pension rewards for

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the dutiful Roman soldiers and their families. That’s where the word annuity comes from. “Annua”

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means payment, they tell me, in Latin. Didn’t take a lot, but that’s where it all came from.

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And immediate annuities have been sold in this country successfully,

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with people that love them, for over 200 years.

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Now, one of the misconceptions about this specific topic— immediate needs annuity quote— “Well,

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when I die, the annuity company keeps the money.

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That’s a bunch of crap." Yeah, it is a bunch of crap because

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we never structure it that way unless you tell us you hate your beneficiaries.

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99.9% of the time, lifetime income quotes, immediate annuity quotes,

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we run single life or joint life with cash refund, single life or joint life with installment refund,

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single life or joint life with 20 years certain or 30 years certain. There’s a backstop there.

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The evil annuity company doesn’t keep a penny unless you tell us you want them to.

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The misconception quote, which is, "annuity company keeps money,” that’s life only. It’s the

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highest payment because you’re shouldering some risk. We try not to have you shoulder

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any risk. You’ve worked hard for the money. You’ve scrimped. You’ve saved. You’ve done

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without. You’re going to buy an immediate annuity for lifetime income to fill in the gap right now.

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I mean, we’re not going to bottom-fish for carriers. We’re going to go A+ or better.

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Now, side note, there’s a lot of you out there going, “You know what,

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Stan? We don’t need lifetime income. We just need to fill a gap. We need to

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fill a 10-year gap because in 10 years we have another tranche of money coming in.”

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Happened the other day. A guy called me and goes, “I’d like to do lifetime income,

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but I really don’t need it. I just need 10 years.”

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You can do an immediate payout single premium immediate annuity,

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period certain. You choose the period certain: 5 years, 7 years, 10 years, 15 years, 20 years.

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Personally, I think the transfer of risk value proposition is for life,

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for as long as you’re breathing or on a respirator. But there are some

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people that might just want to fill a gap. We can do that too.

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Bottom line: it’s customized.

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Let me give a couple examples.

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Single life with cash refund, joint life with cash refund means when,

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in a joint life situation, the second one stops breathing,

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then whatever’s left in the account goes 100% to the listed beneficiaries.

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Single life or joint life with installment refund

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means that when the second person dies in joint life, the same payments are

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coming to the beneficiaries. I call that lovingly handcuffing your beneficiaries.

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I’ve done that with my two daughters, 29 and 27. Okay? All of our stuff is like that,

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my wife and I, that they’re going to get installment refund instead

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of the lump sum. That might be you. That might be something that you want to do.

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So, at my site, theannuityman.com, I’ve written owner’s manuals on single premium

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immediate annuities, which is what we’re talking about. You can download that for

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free. You can also run quotes 24/7/365— single premium immediate annuity quotes,

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quoting all carriers. It’s a live feed for your specific situation.

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We don’t keep, sell, share, or any of that information. We’re just giving you the quote.

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We need your dates of birth— real dates of birth. We need your state of residence. We

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need your name. We’re not going to ask for your phone number. We don’t want to call you

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unless you want us to call. Then you tell us, you schedule a call, and then we’ll call you.

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But it’s this simple. Do not let anyone convince you otherwise.

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Do not let your advisor say, “Well,

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you don’t need that. I’m just going to manage the money and peel off the gains.”

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Sure you are. Sure you are, player.

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And if they pound the table and say, “Yeah, that’s what I want

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to do,” then have them sign off on it. If we lose money, then you owe me that.

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Because with an immediate annuity, it’s guaranteed. What guarantee does the dart-thrower

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have? He has none. She has none. They’ve just seen a bull market and think that’s how it works.

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Do me one last favor. Above my head, a spinning clock, there’s a video that’s

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going to appear about lifetime income. It does address immediate annuities and this question,

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alright? But it also addresses how artificial intelligence will change the game quickly.

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And I don’t know what quickly means. If I knew that, I wouldn’t be talking to you.

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I’d be trading futures, okay? But it’s going to happen in the life insurance annuity space.

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Remember, life insurance companies issue annuities. Life expectancy

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drives the train with pricing, and AI is going to affect life expectancy.

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Watch that video, okay?

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My name is Stan The Annuity Man. See you next time.